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Gigafactory Shanghai

All articles tagged with #gigafactory shanghai

business1 year ago•1 min saved

"Tesla Stock Falls on China Production Cut Amid Slowing EV Sales Growth"

Tesla's stock dropped after reports of reducing electric vehicle output at Gigafactory Shanghai due to lower demand, with the company instructing employees to work five days a week instead of the usual 6 1/2 days. This comes amid difficulties selling vehicles in China, where Tesla has been offering deeper discounts and incentives. The reduction in production capacity extends to other parts of the factory, and Tesla's sales of China-made vehicles are down this year, facing competition from Chinese EV manufacturers offering cheaper EVs and increasing quality.

via Electrek|

#business #china #electric-vehicles

business2 years ago•1 min saved

Tesla's China-made EV sales continue to climb in May.

Tesla China sold 77,695 domestically-produced vehicles in May, including electric cars exported to foreign territories, marking a 2.44% month-over-month increase and a 141.55% year-over-year increase. The figures suggest steady demand for Tesla's all-electric cars in China, despite headwinds for Model 3 sales due to anticipation of Project Highland. Gigafactory Shanghai remains Tesla's primary vehicle export hub, and CEO Elon Musk praised the team during his recent visit to China.

via TESLARATI|

#business #china #electric-vehicles

business2 years ago•2 min saved

Tesla Workers in Shanghai Protest Bonus Cuts to Elon Musk.

Tesla is facing backlash from employees at Gigafactory Shanghai who are complaining about their performance bonuses having been cut reportedly because of an accidental death at the factory earlier this year. The efficiency of the plant enabled the automaker to profit from high margins last year and allowed for room to implement price cuts earlier this year. Tesla workers have been voicing their concerns on Chinese social media and even on Twitter.

via Electrek|

#backlash #business #gigafactory-shanghai

business2 years ago•1 min saved

Tesla's China sales surge while shares drop on delivery concerns.

Tesla China's wholesale figures for March 2023 reached 88,869 vehicles, a 35.03% increase from the same month last year and a 19.44% increase from February 2023. This represents the second-highest China-made vehicle sales ever for the company. In Q1 2023, Tesla's China-made vehicle sales were at 229,322 units, an improvement of 25.88% from Q1 2022. About 54% of Tesla's global deliveries in Q1 2023 were accounted for by vehicles produced at Gigafactory Shanghai.

via TESLARATI|

#business #china #gigafactory-shanghai